It can be difficult to choose a company form, especially in light of possible personal financial liability if the business does not perform well. The company form will also have an impact on the owners' taxes and the possibility of drawing a salary.

If you choose a company form with several owners, such as a limited company or ANS, it may be wise for the owners to have an agreement on who is to do what and, not least, what happens if someone wants to sell their shares or buy into the company. Shareholder or company agreements should therefore be drawn up.

In most companies, a board of directors and a managing director must be elected, which may entail separate responsibilities in relation to those who are only owners.

If the business does not develop as planned, the company must be wound up, either through voluntary liquidation or, in some cases, bankruptcy.

Langseth Advokatfirma DA provides advice during these phases and can assist with the establishment of all types of companies, including associations and foundations.